IBM new business unit to deliver blockchain solutions

IBM had recently launched its very own
industry platforms business unit in an attempt
to deliver blockchain solutions to its customers. According to eWeek,
the company claimed that the release of last week’s blockchain unit will
entirely concentrate on financial services organizations in addition to other
business units.

The Industry Platforms unit will focus on
Watson for financial services, blockchain and strategic partnerships.

Bridget van Kralingen, a fast-tracked IBM
executive who has served as head of IBM Global Business Services, will be in
charge of the unit. Charles King, principal analyst at Pund-It informed to
eWeek about the new unit’s capability to
increase the company’s commitment to blockchain and highlights the company’s
belief that the technology has the potential to enhance its commercial
interests.

This is not the first time that the company
has taken an interest in developing the
blockchain technology. It is an investor in the blockchain startup, Digital
Asset Holdings and is a member of the Linux Foundation’s Hyperledger Project.

Apart from investing, the company opened a
Bluemix Garage in New York focusing on blockchain, fintech, and financial
services in June. In July, IBM joined the Chamber of Digital Commerce (CDC), a
Washington-based advocacy group and trade association that emphasizes on
digital currencies and blockchain technology.

Jerry Cuomo, vice president of Blockchain
Technologies at IBM recently stated that it was important from a national
competitive point of view for U.S. companies and government agencies to lead
the world in understanding blockchain and how to utilize it.